Hexagon extends acceptance period for the recommended unconditional cash offer for the shares in Veripos

  Hexagon extends acceptance period for the recommended unconditional cash
  offer for the shares in Veripos

Business Wire

NACKA STRAND, Sweden -- January 29, 2014

Regulatory News:

Hexagon AB (STO:HEXAB):

Reference is made to the stock exchange notice from Hexagon AB on 20 December
2013 (the “Announcement”) related to the recommended unconditional cash offer
for the remaining shares in Veripos Inc. (“Veripos”) not already owned by
Hexagon Acquisition Ltd. (the “Offer”), an indirectly wholly owned subsidiary
of Hexagon AB (Hexagon AB and Hexagon Acquisition Ltd. hereinafter jointly
referred to as “Hexagon”), and the offer document related to the Offer dated
23 December 2013 (the “Offer Document”).

Hexagon extends the acceptance period (the “Acceptance Period”) for the Offer
until 16:30 CET on 7 February 2014. There will not be any further extensions
to the Acceptance Period. As a consequence of the extension, the latest date
for settlement of the Offer will be postponed accordingly to 18 February 2014
as set out in the Offer Document.

Hexagon has, as per 16:00 CET today, received acceptances of the Offer from
shareholders holding 17,514,274 shares, representing 52.9 per cent of the
outstanding shares of Veripos. In addition, Hexagon currently owns 10,055,090
shares in Veripos, representing 30.3 per cent of the outstanding shares of
Veripos. Accordingly, Hexagon owns and has, as per 16:00 CET today, received
acceptances for 27,569,364 shares, representing 83.2 per cent of the total
shares in Veripos.

As stated in the Offer Document section 4.7, it is Hexagon’s intention,
following settlement of the Offer, to complete a compulsory acquisition of any
minority shares in Veripos not owned by Hexagon. Since Hexagon will own more
than 2/3 of the shares of Veripos following the settlement of the Offer,
Hexagon has, as explained in the Offer Document section 4.7 b., the
possibility to execute a compulsory acquisition under Cayman law through a
so-called “long-form merger”. Shareholders that have not yet accepted the
Offer should carefully consider that acceptance of the Offer would imply cash
settlement of tendered shares within 18 February 2014, while settlement will
be delayed under a compulsory acquisition. It is currently uncertain when
settlement under a compulsory acquisition will take place as this is dependent
upon the options to conduct a compulsory acquisition available to Hexagon at
the time of initiating such acquisition. Settlement under a compulsory
acquisition could take approximately two to six months following settlement of
the Offer.

SEB Corporate Finance is acting as financial adviser for Hexagon.

Hexagon (NASDAQ OMX Stockholm: HEXA B) is a leading global provider of design,
measurement and visualisation technologies. Our customers can design, measure
and position objects, and process and present data, to stay one step ahead of
a changing world. Hexagon’s solutions increase productivity, enhance quality
and allow for faster, better operational decisions, saving time, money and
resources. Hexagon has more than 14,000 employees in over 40 countries and net
sales of about 2,400 MEUR. Our products are used in a broad range of
industries including surveying, power and energy, aerospace and defence,
construction, safety and security, automotive and manufacturing. Learn more at
www.hexagon.com.

This information was brought to you by Cision http://news.cision.com

Contact:

Hexagon AB
Carl Gustafsson
Investor Relations Manager
+46 8 601 26 27
ir@hexagon.com
or
Kristin Christensen
Vice President, Corporate Communications
+1 404 554 0972
media@hexagon.com
or
SEB Corporate Finance
Karl Skjelbred
+47 21 00 85 78
karl.skjelbred@seb.no
or
Jo Isaksen
+47 21 00 85 41
jo.isaksen@seb.no
 
Press spacebar to pause and continue. Press esc to stop.